On January 19, 2021, the Company completed the U.K. Sale pursuant to a Share Purchase Agreement in which it sold all of the securities of AHC-WW Jersey Limited, a private limited liability company incorporated in Jersey and a subsidiary of the Company, which constitutes the entirety of our U.K. business operations. The U.K. Sale resulted in approximately $1,525 million of gross proceeds before deducting the settlement of existing foreign currency hedging liabilities of $85 million based on the current British Pounds (“GBP”) to US Dollars (“USD”) exchange rate, cash retained by the buyer of approximately $75 million and transaction costs of $16 million. The Company used the net proceeds of approximately $1,425 million (or $1,350 million, net of cash retained by the buyer) to repay in full the outstanding balances of its Term Loan A Facility (the “TLA Facility”) of $312 million and its Term Loan B facility Tranche B-4 (the “Tranche B-4 Facility”) of $768 million of the Amended and Restated Credit Agreement (the “Amended and Restated Credit Agreement”) and added $345 million of cash to the Company’s balance sheet. In addition to reducing its indebtedness, the U.K. Sale allows the Company to focus on U.S. operations.

As a result of the U.K. Sale, the Company reported, for all periods presented, results of operations and cash flows of the U.K. operations as discontinued operations in the accompanying financial statements. In December 2020, the Company’s U.K. operations met the criteria to be classified as assets held for sale. The carrying value of the U.K. operations was written down to fair value less costs to sell in the consolidated balance sheets at December 31, 2020. This resulted in a loss on sale of $867.3 million, which includes approximately $356.2 million of non-cash goodwill impairment, within discontinued operations in the consolidated statements of operations.

For the years ended December 31, 2020, 2019 and 2018, results of operations of the U.K. operations were as follows (in thousands):

	Year Ended December 31,
	2020			2019			2018
Revenue	$	1,119,768		$	1,099,081		$	1,107,747
Salaries, wages and benefits		632,134			609,823			610,031
Professional fees		127,291			122,532			117,376
Supplies		38,285			37,527			37,852
Rents and leases		47,748			46,743			45,967
Other operating expenses		113,534			115,897			110,827
Depreciation and amortization		74,935			76,121			78,490
Interest expense, net		(417	)		(231	)		876
Loss on sale		867,324			—			—
Loss on impairment		20,239			27,169			337,889
Transaction-related expenses		8,719			5,907			4,788
Total expenses		1,929,792			1,041,488			1,344,096
(Loss) income from discontinued operations before income taxes		(810,024	)		57,593			(236,349	)
Provision for (benefit from) income taxes		2,366			781			(3,375	)
(Loss) income from discontinued operations	$	(812,390	)	$	56,812		$	(232,974	)

The major classes of assets and liabilities for the U.K. operations are shown below (in thousands):

	December 31,
	2020		2019

Cash and cash equivalents	$	75,051	$	24,657
Accounts receivable, net		52,196		50,912
Other current assets		13,361		13,277
Current assets of discontinued operations		140,608		88,846
Property and equipment, net		1,297,923		1,724,447
Goodwill		—		364,027
Intangible assets, net		22,289		21,531
Operating lease right-of-use assets		341,289		404,042
Other assets		7,706		13,127
Total assets of discontinued operations		1,809,815		2,616,020

Current liabilities:
Accounts payable	$	44,929	$	36,788
Current portion of operating lease liabilities		11,141		11,021
Other current liabilities		136,895		100,883
Current liabilities of discontinued operations		192,965		148,692
Operating lease liabilities		387,607		416,609
Deferred tax liabilities		57,230		49,040
Other liabilities		22,225		21,435
Total liabilities of discontinued operations	$	660,027	$	635,776

As part of the acquisition of Partnerships in Care on July 1, 2014, the Company assumed a frozen contributory defined benefit retirement plan (“Partnerships in Care Pension Plan”) covering substantially all of the employees of Partnerships in Care and its subsidiaries prior to May 1, 2005 at which time, the Partnerships in Care Plan was frozen to new participants. Effective May 2015, the active participants no longer accrue benefits. The Company recognizes the unfunded liability of the Partnerships in Care Pension Plan on the Company’s consolidated balance sheet and unrecognized gains (losses) and prior service credits (costs) as changes in other comprehensive income (loss). The measurement date of the Partnerships in Care Pension Plan’s assets and liabilities coincides with the Company’s year-end. The Company’s pension benefit obligation is measured using actuarial calculations that incorporate discount rates, rate of compensation increases, when applicable, expected long-term returns on plan assets and consider expected age of retirement and mortality. Expected return on plan assets is determined by using the specific asset distribution at the measurement date.

The following table summarizes the funded status (unfunded liability) of the Partnerships in Care Pension Plan based upon actuarial valuations prepared at December 31, 2020 and 2019 (in thousands). The unfunded liability for the Partnership in Care Pension Plan is included in current liabilities held for sale and noncurrent liabilities held for sale, respectively, on the consolidated balance sheets at December 31, 2020 and 2019. The Company’s obligation to maintain the Partnership in Care Pension Plan terminated effective January 19, 2021 in connection with the U.K. Sale.

The consolidated cash flows for the years ended December 31, 2020 and 2019 related to the discontinued U.K. operations includes cash paid for capital expenditures of $48.4 million and $59.6 million, respectively.